The Canada Revenue Agency and Payment Source – a prepaid products provider for retailers – have partnered to offer Canadians an easier way to pay taxes. Starting this year, taxpayers will simply have to scan the QR code embedded in their tax forms and subsequently go to any of the 6,000 Canadian Post locations to settle their dues in cash or debit.
In a country where over 51% of the population uses cash for everyday payments, Payment Source’s Loadhub technology will now make it even easier for people living some of the most remote regions to pay for taxes. Others that will greatly benefit are the 34% of unbanked and underbanked Canadians as well as last-minute taxpayers.
This technology has already proven its effectiveness in 2017: Amazon integrated it into its Canadian platform to allow consumers with a preference for cash payments to use it for their online purchases.